Worth Asset Management LLC Buys 4,609 Shares of Apple Inc. (NASDAQ:AAPL)

Worth Asset Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,794 shares of the iPhone maker’s stock after purchasing an additional 4,609 shares during the quarter. Apple comprises about 3.0% of Worth Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Worth Asset Management LLC’s holdings in Apple were worth $5,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. Capital International Investors boosted its position in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Finally, Swedbank AB boosted its position in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AAPL shares. Moffett Nathanson decreased their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Loop Capital reduced their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Stock Down 0.1 %

Shares of NASDAQ:AAPL opened at $234.93 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a 50 day moving average of $228.83 and a two-hundred day moving average of $219.23. The company has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.